Boohoo | Fashion giant faces 'furious' shareholder revolt over boss bonuses following missed targets

Boohoo, the online fashion retailer, has reversed its decision to award £1 million bonuses to three top executives after facing a backlash from shareholders.

This decision comes in the wake of the company's widening losses and its plunge into debt.

The controversial bonuses were slated for Boohoo’s Chief Executive, John Lyttle, and Co-Founders Mahmud Kamani and Carol Kane.

Despite missing key performance targets in sales, profits, cash flow, as well as environmental objectives, the remuneration committee had proposed these one-off bonuses. This plan was included in Boohoo's recent annual report, which revealed significant financial setbacks for the company.